Global Payments (GPN) Receives “Buy” Rating from Cowen
Global Payments (NYSE:GPN)‘s stock had its “buy” rating restated by research analysts at Cowen in a research report issued to clients and investors on Thursday. They presently have a $127.00 price target on the business services provider’s stock. Cowen’s price target suggests a potential upside of 11.94% from the stock’s previous close.
GPN has been the topic of a number of other research reports. Stephens raised Global Payments from an “equal weight” rating to an “overweight” rating and set a $122.00 price target on the stock in a report on Tuesday, January 9th. Piper Jaffray Companies lifted their price target on Global Payments to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 8th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $122.00 price target on shares of Global Payments in a report on Friday, December 22nd. Robert W. Baird reaffirmed a “buy” rating and set a $124.00 price target on shares of Global Payments in a report on Tuesday, January 23rd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $135.00 price target on shares of Global Payments in a report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $109.40.
Global Payments (GPN) traded up $2.00 on Thursday, hitting $113.45. The stock had a trading volume of 1,434,080 shares, compared to its average volume of 1,336,504. The company has a market capitalization of $17,743.50, a PE ratio of 38.07, a PEG ratio of 1.45 and a beta of 1.09. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.14 and a current ratio of 1.13. Global Payments has a 52 week low of $76.47 and a 52 week high of $115.47.
Global Payments declared that its board has initiated a stock buyback plan on Thursday, February 15th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $114.34, for a total value of $68,604.00. Following the transaction, the director now owns 43,693 shares of the company’s stock, valued at $4,995,857.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 3,600 shares of company stock worth $378,918 in the last ninety days. 0.93% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB increased its holdings in shares of Global Payments by 13.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 14,060 shares of the business services provider’s stock valued at $1,409,000 after buying an additional 1,718 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Global Payments by 16.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,499 shares of the business services provider’s stock valued at $2,657,000 after buying an additional 3,792 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Global Payments by 7.2% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,110 shares of the business services provider’s stock valued at $8,231,000 after buying an additional 5,500 shares in the last quarter. Alkeon Capital Management LLC grew its position in Global Payments by 10.2% during the 4th quarter. Alkeon Capital Management LLC now owns 1,322,766 shares of the business services provider’s stock worth $132,594,000 after purchasing an additional 122,755 shares in the last quarter. Finally, SWS Partners purchased a new position in Global Payments during the 4th quarter worth approximately $163,000. 95.74% of the stock is currently owned by institutional investors.
Global Payments Company Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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